Tractor Supply (NASDAQ:TSCO) Plans Dividend Increase - $0.92 Per Share

Tractor Supply (NASDAQ:TSCO - Get Free Report) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Wednesday, February 26th will be paid a dividend of 0.92 per share by the specialty retailer on Tuesday, March 11th. This represents a $3.68 dividend on an annualized basis and a yield of 6.44%. This is an increase from Tractor Supply's previous quarterly dividend of $0.22.

Tractor Supply has raised its dividend payment by an average of 28.4% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Tractor Supply has a payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Tractor Supply to earn $2.42 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 38.0%.

Tractor Supply Stock Up 0.3 %

Shares of NASDAQ:TSCO traded up $0.15 during midday trading on Monday, hitting $57.14. 4,901,294 shares of the company's stock traded hands, compared to its average volume of 5,532,087. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.20 and a current ratio of 1.43. The company has a market cap of $30.51 billion, a PE ratio of 28.01, a P/E/G ratio of 2.70 and a beta of 0.84. The firm's fifty day moving average price is $54.84 and its two-hundred day moving average price is $55.34. Tractor Supply has a twelve month low of $46.76 and a twelve month high of $61.53.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. On average, equities research analysts anticipate that Tractor Supply will post 2.17 EPS for the current fiscal year.

Tractor Supply declared that its board has approved a share repurchase program on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 88,095 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $54.59, for a total transaction of $4,809,106.05. Following the transaction, the chief executive officer now directly owns 488,852 shares of the company's stock, valued at approximately $26,686,430.68. This trade represents a 15.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Colin Yankee sold 24,602 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $54.15, for a total value of $1,332,198.30. Following the transaction, the executive vice president now directly owns 33,645 shares in the company, valued at $1,821,876.75. This trade represents a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,143 shares of company stock worth $7,315,961. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSCO has been the topic of a number of recent research reports. Telsey Advisory Group reissued an "outperform" rating and set a $67.00 target price on shares of Tractor Supply in a research report on Thursday, January 30th. Wells Fargo & Company cut their price target on Tractor Supply from $65.00 to $64.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Bank of America boosted their price target on Tractor Supply from $44.00 to $53.00 and gave the stock an "underperform" rating in a research note on Thursday, January 16th. DA Davidson upped their target price on Tractor Supply from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $60.00 price target on shares of Tractor Supply in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $59.22.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.